Tata Steel to launch new early separation scheme

Jamshedpur: Steel major Tata Steel will launch a new early separation scheme - 'Sunharae Bhavishya ki Yojna' for its non-officer grade employees from Wednesday.

The scheme has multiple options to choose from compared to the earlier scheme, Suresh Dutt Tripathy, vice-president, HR, said.

He said the company decided to bring in some changes to the scheme, as the response to it had gradually gone down in the last couple of years.

The new SBKY has three options - 'Long-term Masik Pratidan Scheme', 'Lumpsum-cum-Masik Pratidan Scheme' till 60 years and 'Masik Pratidan Scheme' till 60 years, he said.

Tripathy said only 40 employees had availed the SBKY in 2016-17, compared to 1,486 in 2015-16.